Zomato's stock continues to fall, even lower than the issue price, know the opinion of experts

Zomato’s stock continues to fall, even lower than the issue price, know the opinion of experts

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New Delhi. The stock of Zomato continues to decline. In BSE today, the stock fell 6 per cent to Rs 75 per share in intraday trading. Let us know that the IPO issue price of this stock was Rs 76. This stock has lost about 18 percent in the last 5 trading sessions. At the same time, this stock has slipped 41 percent in about 1 month.

This stock has seen the effect of the fall in tech stocks all over the world. However, there has been a slight recovery in the shares of the food delivery company. At present, the shares of Zomato are trading at Rs 77.20 on the BSE, down 6.31 per cent.

There was a big drop in January
There was a big fall in the stock price of Zomato at the end of January. In the last days of January, this stock had fallen by more than 50 percent. After this the stock had come down to Rs 100 for the first time. Due to this poor performance in the stock market, the company’s mcap suffered a lot and last month it came down to Rs 1 lakh crore for the first time. Right now the company’s mcap has come down to less than Rs 65 thousand crores.

Also Read: How To Choose The Right ETF? Keep these things in mind before investing

Know what the experts have to say
Ravi Singhal of GCL Securities has said that we may see further decline in this stock and it can go up to the level of Rs 65 70. It is expected that with the start of unlocking activity, this stock will see a rise. In such a situation, people who want to invest from a long perspective can start buying slowly in this stock when they come around Rs 65 70.

Zomato’s revenue in the October-December quarter grew 82.7 per cent on a quarterly basis to Rs 1,112 crore, as against Rs 609.4 crore in the September quarter. On the other hand, talking about the adjusted revenue of the company, it grew 78 percent on an annual basis to Rs 1,420 crore, while it remained the same on a quarterly basis. Zomato’s Gross Order Value (Gov) grew 84.5 per cent year-on-year and 1.7 per cent quarter-on-quarter to Rs 5,500 crore in the December quarter.

Tags: business news in hindi, IPO, stock market, Zomato

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